EUR/USD hits 1.1200, up 0.04% intraday

According to information from Zhitong Finance APP, Amazon (AMZN.US) confirmed on Wednesday that it has laid off a small number of employees, mainly from its Stores division responsible for its main e-commerce website. This round of layoffs is the latest small-scale staff reduction since Amazon's large-scale layoffs that began last year and continued into January this year. The previous round involved about 30,000 employees. A person familiar with the matter stated that Amazon cut fewer than 1,000 white-collar employees this time.

Citi analysts stated in a research report that, driven by robust AI computing demand, the potential expansion of AI agents, and the rise of co-packaged optics (CPO) network cycles, TSMC’s revenue growth rate is expected to remain above 40% through 2027. The analysts noted that most AI chip clients, including Nvidia, AMD, and Broadcom, anticipate accelerated growth, so TSMC’s AI-related revenue may nearly double next year. As a result, Citi expects the market will continue to raise earnings forecasts for TSMC. Citi pointed out that supported by the strong revenue outlook, TSMC’s capital expenditure could further rise to $81 billions in 2027 and $90 billions in 2028. Citi maintains a “Buy” rating on TSMC and has raised its target price from 3,800 to 4,000 New Taiwan dollars.

GBP/JPY has just reached the 209.00 level, latest quoted at 209.00, up 0.07% on the day.

The main contract of China's INE crude oil futures has just broken through the 740.0 yuan/barrel mark, now quoted at 740.3 yuan/barrel, up 6.35% intraday.